What do you believe to be a large amount of cash?

[eagle488]

I view anything over $1 million dollars to be a large amount of cash.

Under a million is still nice, but its not enough where I would feel truly comfortable.

A million dollars invested wisely enough can be turned into multi-millions in a 7 year time frame. Even just socking it away in the Vanguard Wellington Fund and you would nearly double your cash to 2 million.

On the other hand 300,000 just turns into 600,000 in that same mutual fund. It could be turned probably into over a million with aggressive enough investing. 600,000 is still a nice amount of cash, but its not a million.

 

[slowdown]

anywhere between 3-7 mill. 1 mill def not enough these days.

 

[Steve Tvardek]

8 Figures

 

[S2007S]

$1,000,000 is a nice chunk but I think if you live a simple life you can easily retire on $2-3 million.

would say $2-$4 million

 

[Bitstream]

ror, my anutie has around 1mln in savin'; with costs of goods and life in general nowadays it ain't nuttin'.

 

[volente_00]

Lot of factors here like your age, location, lifestyle.


1 mil paying 5 % risk free and after taxes would be fine for some, but for someone in NYC it would not even pay the mortgage.

 

[Pekelo]

Quote from eagle488:


On the other hand 300,000 just turns into 600,000 in that same mutual fund.

What's the problem? You just have to wait 2 more years to reach your multi million goal. Patience....

 

[ElCubano]

430k cash in the closet....from uncle Orli...doing a 25 year stint in Pennsylvania somewhere...i almost shit me pants..

 

[eagle488]

I look at things in 7 year cycles. A 10 percent gain each year for 7 years will double any given amount of cash (when taxes are not factored into the equation).

 

[Sikhinvestor]

I think anything like 10 million dollars of Cash is a lot. I am not talking about savings, 10 million is fine where I live. You can pretty much buy a decent house for about 2 million USD and chill on Robson Street in Vancouver for about 1500 a day.